Tadawul approves Morgan Stanley as market maker for GO, iOud

Logo of Saudi Exchange (Tadawul) 

Saudi Exchange (Tadawul) approved Morgan Stanley Saudi Arabia’s request to conduct market-making activities on Etihad Atheeb Telecommunication Co. (GO) in the Main Market and Intelligent Oud Company for Trading on the Nomu-Parallel Market, starting Nov. 30.

For Etihad Atheeb, market-maker obligations include maintaining 70% minimum order presence, SAR 250,000 minimum order size, a 0.75% max price spread, and a ≥5% minimum value traded.

For Intelligent Oud, requirements are 50% order presence, SAR 50,000 minimum size, and a 5% spread cap.

Tadawul noted that Morgan Stanley Saudi Arabia will adhere to established market-making rules and procedures.